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Employment Protection Legislation and Wages

Leonardi, Marco; Pica, Giovanni - 2021

In a perfect labor market severance payments can have no real effects as they can be undone by a properly designed labor contract (Lazear 1990). We give empirical content to this proposition by estimating the effects of EPL on entry wages and on the tenure-wage profile in a quasi-experimental...

Persistent link: https://www.econbiz.de/10013316954

Foreign direct investment and environmental taxes

De Santis, Roberto A.; Stähler, Frank - 2008

This paper studies the effect of foreign direct investment (FDI) on environmental policy stringency in a two-country model with trade costs, where FDI could be unilateral and bilateral and both governments address local pollution through environmental taxes. We show that FDI does not give rise...

Persistent link: https://www.econbiz.de/10011604967

Employment protection legislation and wages

Leonardi, Marco; Pica, Giovanni - 2007

Persistent link: https://www.econbiz.de/10011604824

Fiscal Equalization and the Tax Structure

Holm-Hadulla, Federic - 2021

between jurisdictions lowers the perceived excess burden of distortionary taxation and thereby raises its attractiveness from … taxation serves as a Pigouvian intervention to correct externalities. The empirical analysis supports redistribution between … jurisdictions as important, but insufficient, to fully explain the observed reliance on distortionary taxation. Among the remaining …

Persistent link: https://www.econbiz.de/10013315380

Regulation of multinational banks: a theoretical inquiry

Calzolari, Giacomo; Loranth, Gyongyi - 2005

This paper examines prudential regulation of a multinational bank (MNB hereafter) and shows how regulatory intervention depends on the liability structure and insurance arrangements for non local depositors (i.e. on the representation form for foreign units). Shared liability among the MNB’s...

Persistent link: https://www.econbiz.de/10011604477

The Export-Magnification Effect of Offshoring

Kleinert, Joern - 2012

In this paper we provide a new explanation for the increase in world trade over the last two decades. We show analytically in a general equilibrium model with heterogeneous firms that a fall in variable offshoring costs boosts trade in differentiated final goods through an intra-industry...

Persistent link: https://www.econbiz.de/10013107510

Business Groups as Hierarchies of Firms : Determinants of Vertical Integration and Performance

Altomonte, Carlo - 2013

We explore the nature of Business Groups, that is network-like forms of hierarchical organization between legally autonomous firms spanning both within and across national borders. Exploiting a unique dataset of 270,474 headquarters controlling more than 1,500,000 (domestic and foreign)...

Persistent link: https://www.econbiz.de/10013081466

Can adjustment costs explain the variability and counter-cyclicality of the labour share at the firm and aggregate level?

Vermeulen, Philip - 2007

This paper shows that adjustment costs modelled as firing costs of moderate size go a long way in explaining the variability and counter-cyclicality of the labour share at the firm and aggregate level. Firing costs cause firms to hire less in recessions and hire less in booms causing wage costs...

Persistent link: https://www.econbiz.de/10011604818

Infinite-dimensional VARs and factor models

Chudik, Alexander; Pesaran, Hashem - 2009

This paper introduces a novel approach for dealing with the 'curse of dimensionality' in the case of large linear dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the number of endogenous variables tends to infinity. It is...

Persistent link: https://www.econbiz.de/10011605044

Central Clearing and Collateral Demand

Duffie, Darrell - 2014

We use an extensive data set of bilateral exposures on credit default swap (CDS) to estimate the impact on collateral demand of new margin and clearing practices and regulations. We decompose collateral demand for both customers and dealers into several key components, including the “velocity...

Persistent link: https://www.econbiz.de/10013059582